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Medical Engineered Materials Market 2024-2033: Production Analysis, Insights, New Trends And Major Players | Evonik Industries AG, Covestro AG, BASF SE, Solvay SA, Saudi Basic Industries Corporation
Medical Engineered Materials Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the medical engineered materials industry. This report on medical engineered materials market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The medical engineered materials market size has grown rapidly in recent years. It will grow from $19.59 billion in 2023 to $22.67 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to aging population, regulatory compliance, infection control, materials for implants, tissue engineering.
The medical engineered materials market size is expected to see rapid growth in the next few years. It will grow to $38.77 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to global health preparedness, 3d printing and additive manufacturing, advanced coatings, nanomedicine, personalized medicine. Major trends in the forecast period include nanotechnology, biodegradable and resorbable materials, bioactive and smart materials, sustainability and eco-friendly materials, advancements in medical technology.
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Key Market Players:
Evonik Industries AG, Covestro AG, BASF SE, Solvay SA, Saudi Basic Industries Corporation, Trelleborg AB, Koninklijke DSM N.V, Celanese Corporation, DuPont de Nemours Inc., Ethicon Inc., Henkel AG & Co. KGaA, Huntsman Corporation, Momentive Performance Materials Inc
Market Drivers:
According to the Medical Engineered Materials Market Report 2024 by The Business Research Company, the increase in instances of chronic diseases are expected to drive the growth of the medical engineered materials market going forward. Chronic diseases refer to conditions that last a year or more and require ongoing medical attention or limit activities of daily living, or both. The nanoengineered parts can be used to build a miniature replica of a heart chamber and cure heart-related problems. For instance, in January 2023, according to the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, there would be 142.66 million people with chronic diseases worldwide by the year 2050, up from 71.522 million in 2020. Therefore, the increasing instances of chronic diseases are driving the growth of the medical engineered materials market.
More information about the Global Medical Engineered Materials Market Report -
https://www.thebusinessresearchcompany.com/report/medical-engineered-materials-global-market-report
Market segments for template include:
1) By Type: Medical Plastics, Medical Foams, Medical Films, Medical Adhesives, Medical Elastomer
2) By Application Type: Medical Devices, Medical Disposables, Medical Wearables, Advanced Woundcare
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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